Robson Brown looks to 'media partner' as Round2 UK Group is placed into administration
Integrated media company Round2 Communications UK group, including Newcastle agency Robson Brown, has been placed into administration.
Staff at the Newcastle agency were made aware of the situation this morning, and a statement from the company explained that the agency would look to enter into partnerships with ‘a well established media partner’.
A spokesperson for Robson Brown, explained: “The financial structure which Round 2 adopted was based on leveraging significant debt into those businesses has been wholly inappropriate and totally unworkable. This has created unsustainable financial stress into the group which has resulted in the group going into administration.”
Round2 made three acquisitions in the UK in 2010, beginning with Robson Brown in March, and then London media group AW Communications the following month.
Last month it completed the acquisition of Bath-based agency Attinger Jack Advertising for an undisclosed fee.
Round2, which specialised in media planning and buying services, was founded in Los Angeles in 1993.